SAN DIEGO, Feb. 26, 2024 /PRNewswire/ -- Neomorph, Inc. today announced it has entered into a collaboration and licensing agreement with global healthcare company Novo Nordisk to discover, develop and commercialize molecular glue degraders. Neomorph, a biotechnology company solving critical problems in human health through the discovery of novel therapeutics against 'undruggable' targets, was founded in 2020 and is venture backed by Deerfield Management Company.

"We are incredibly excited to partner with Novo Nordisk, a world-class healthcare company within diabetes, obesity and rare blood disorders," said Phil Chamberlain, DPhil, Co-Founder, President, and CEO of Neomorph. "By combining Neomorph's proprietary glue discovery platform with Novo Nordisk's vast experience in cardiometabolic and rare diseases, we are well positioned to develop transformative treatments in these areas. This collaboration will enable the expansion of our platform into new therapeutic areas, complementing our on-going efforts in oncology."

Under the terms of the agreement, Neomorph will receive an upfront and near-term milestone payments, plus R&D funding. Neomorph is also eligible to receive future clinical, commercial and sales milestone payments bringing the total potential deal value for multiple targets to $1.46B, plus tiered royalties. Neomorph will lead discovery and preclinical activities against selected targets with Novo Nordisk having the right to exclusively pursue further clinical development and commercialization of the compounds.

"Novo Nordisk is expanding its drug discovery efforts and deploying a range of novel technology platforms with the aim of discovering and developing new treatment solutions for people living with serious chronic diseases. We are pleased to enter this research collaboration and eager to start the scientific work on the novel class of molecular glue degraders being pioneered by Neomorph," said Brian Vandahl, Senior Vice President of Global Research Technologies at Novo Nordisk.

About Neomorph
Neomorph is a biotechnology company solving critical problems in human health through the discovery and development of innovative new medicines against 'undruggable' targets. Neomorph was founded in 2020 and is venture backed by Deerfield Management Company.

Neomorph's team is comprised of industry leading experts in protein degradation and molecular glues who have a track record of ground-breaking discoveries in the field. The team at Neomorph is committed to leadership in advancing the science and technology of molecular glue drug discovery, while prosecuting a pipeline of projects through clinical development.

Neomorph is headquartered in San Diego, California. For more information, visit www.neomorph.com and follow us on LinkedIn.

Contacts
Investor Contact: inquiries@neomorph.com
Media Contact: media@neomorph.com 

SOURCE:- PR Newswire